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Telos X Oku - Bridging Web3
Recorded: April 11, 2025 Duration: 1:01:53Space Recording
Short Summary
Oku and Uniswap are forging a powerful partnership to enhance DeFi capabilities, introducing new trading features and achieving a remarkable $4 billion in total value locked. With upcoming innovations like advanced limit orders and the integration of Morpho, the platform is set to redefine user experiences in the crypto space.
Full Transcription
Thank you. Hello, hello everyone.
How's it going?
Let's wait a few minutes for some people to join, then we can get started. Thank you. All right, all right.
We got Alex and Justin on. Alex, can you hear me?
Hey, guys. Yeah, I can hear you.
All right. Great to have you. Justin?
Great to have you, Justin.
How you doing? Good morning, everyone.
How are you doing? Good morning, everyone.
Good morning.
Great. Well, I think we get started.
Alex, is there anybody else joining from OCU?
We might have one more person joining us.
We'll give it another minute. If we can add a Uniswap Growth Account up to this stage.
Awesome.
Welcome, Uniswap DAO.
GMGM, happy Friday, everybody.
Happy, happy Friday.
Great to have you guys on.
We're really excited to be doing this.
Some exciting things to talk about. I think we could get started.
And then anybody else that wants to join, they could just request and we'll get it approved here. So welcome, guys. We got, you know, HelloTelos here, Justin and I on, as well as UniswapDAO and Oku.
And we want to give the floor to Oku and Uniswap if you could introduce yourself and share your roles.
That would be great.
Yeah, I can go first. So yeah, my name is Alex.
I kind of lead all the content here at Oku.
So everything that you see on the socials, all the videos,
and yeah, most of the short form Twitter stuff.
Yeah.
Yeah.
Great.
And who do we have from Uniswap?
Yeah, happy to introduce myself.
So Austin Lee here.
I am technically with Alpha Growth.
We are a service provider of the DAO.
Our goal is to help with growth and marketing for Uniswap, you know,
deployments, incentives, and projects building in the ecosystem to continue to help Uniswap
maintain being the liquidity layer of the internet. Nice. Great to have you guys on.
Nice. Great to have you guys on. So I guess the first question is going to be for Oku. You know, you guys are one of our newest, biggest techs, you know, partnering Stargate and Oku. So, you know, we have a lot of exciting new assets on Telos now.
And I guess I wanted to ask you guys,
what was the original pain point Oku set out to solve?
Yeah, so that's a great question.
So the original pain point was making it easier
for liquidity providers to provide liquidity.
We kind of made it real simple for them,
just like go in inside Inoswap V3 on OkuTrade.
They can just go in, select their pair, and provide liquidity.
And then over time, it kind of expanded into bridging and swapping.
So right now, like you said, we have Stargate integrated on Oku.
We have across all these different bridges.
We have Bungie, which is a bridge aggregator,
and then we have Dex integrated too.
So we have Uniswap, 1inch, Paraswap, OX.
Paraswap
OX. We have about nine
We have about nine Dex aggregators.
Dex aggregators. So we make it
real easy for users
to bridge, swap, and LP.
And then for Telos,
it's kind of special because we just
enabled limit orders.
I think it was last
week. So that's always exciting.
Yeah, that's awesome to have.
Once I heard about it, I was really excited to see that we have
that now on the on our dexes so with you so um yeah um what would you say is on the horizon for
oku any upcoming features or big plans yeah so we actually do have some upcoming features, a couple of big things.
Here in a couple days, I would say maybe a week or two, we're going to have new limit order types.
So right now we have limit orders, but we're going to enable stop loss orders, stop limit orders, and bracket orders. so yeah it's gonna be a lot more advanced order types but definitely a lot of functionality
especially if you're an advanced trader if you know like right now is a pretty good time for
to use or limit orders you can just set your price uh you know set your desired price and then
if it drops below that or if it's a certain price then your order will automatically
be executed so it's a really nice feature I've tried it out on telos myself I use it to buy some
telos with USDC but yeah if you guys haven't tried it out go try that out and then in a couple days
we'll set out those new new limit order types. Awesome, awesome stuff, Alex.
I just want to dive in a little bit,
because you were mentioning,
I wanted to dive in a little bit
about how you guys work with Uniswap,
because some of the people who are newer to Oku
probably don't realize that you guys are basically a layer
on top of Uniswap. Correct me if I'm wrong. And so like in terms of the AMM functionality,
you guys are sort of basically using Uniswap at the base layer. And I think that's an interesting
component. And it also goes back to your kind of starting story at Oku.
Well, a big part of your story is you guys actually got a really large grant from Uniswap
that allowed you to kind of help improve that Uniswap ecosystem.
And I just want to dive in a little bit more on this as, you know, it's quite interesting
because most people are just like, well, most uh decks is out there are just creating a brand new uh order book and i think it's great
to see that you guys saw sort of issues with you know the the uniswap itself and you wanted to help
improve an existing decks uh because like there is a lot of scattered liquidity out there.
And Uniswap is the most trusted name in DeFi.
And it's good to just see a little bit more efforts
towards improving what we have
as opposed to just creating more and more dispersed liquidity,
if that makes sense.
Yeah, that's a good point.
And then also the cool thing about Oku is that,
you know, you have Uniswap functionality,
but, you know, if you go on Uniswap's front-end and swap,
they charge you a front-end fee.
So the cool thing about Oku is there's zero front-end fees.
So, you know, you kind of, you're able to get the best rates
and then you're able to save on those front end fees
because over time they kind of do add up if you're swapping every day.
Those fees add up.
And so can you go a little bit deep into the relationship that you guys have with Uniswap
and how that works?
And then maybe we can bring in Austin as well because I guess Austin works sort of as part of that DAO layer as well. Correct me if I'm wrong. I think
it'd just be interesting to the audience, like how exactly Uniswap works with like different
third parties and, you know, to build out that ecosystem. Yeah, yeah, definitely. I think this is a pretty good question for Austin.
I think Austin can speak a little bit more about that.
Yeah, happy to.
So, yeah, we work with GFX Labs, Oku,
pretty regularly to get up Uniswap on new deployments
get up Uniswap on new deployments and across different networks.
across different networks.
So it's, I would say, you know,
it's been great over the past several months.
I think you guys have been doing this for quite a while, long time.
I think it's been a couple of years in terms of like new deployments for Uniswap
and getting to different places where Uniswap can really exist and build up that
liquidity on new blockchain networks. I want to say there's about 31 different deployments and
different networks that Oku's on. So I think Oku does an incredible job on helping Uniswap grow,
especially going wide. I think that Uniswap Labs working on the tech with Unichain and Univ4
is great going deep.
And I think it's just as important to grow and expand out
and which Oku's been the technical provider there and helping Uniswap grow.
Yeah, no, definitely makes sense.
Actually, you mentioned Uniswap before. I'm kind of
curious, where's that at at the moment? Is that at release? Actually, it has been released,
right? It was earlier this year. I'm just curious, what level of adoption is that at
and what are the advantages versus the previous model?
Yeah, for sure. So it's pretty early to be 100% honest.
I know it's launched in February, but you kind of have to think about it as like infrastructure,
right?
So now it's about getting a pipeline of builders with like the Atrium Academy, with the Hooks
Incubator, getting folks to understand how Hooks work, how to use them and leverage them
for different use cases.
So I think folks like Bunny,
you know, Flaunch,
and folks like Semantic Layer
have been putting in a lot of work early.
But I still think we're waiting
for the next unicorn on Uniswap.
And I think that's just going to take a little time.
Yeah, something people don't realize about like Uniswap and the different
version numbers is like they each like have different advantages and
disadvantages and they also like, yeah, they have a very long time horizon
to gain adoption, don't they?
Like it's not like an overnight they like it's not like an
overnight thing and it's not like you know we stop using we like there's still really big pools with
like uniswap v2 um and i think v1 as well and v3 is obviously the the largest i think at the moment
um but but there's definitely trade-offs and they're not like i guess you could say they're
better in some ways going to the next version but it's not necessarily exactly like that it's it's
sort of a trade-off for the the people you know doing the market making or you know providing
the liquidity rather i guess calling it market making isn't exactly the right terminology when
it's an amm but yeah it's it's an interesting dynamic with all these different versions.
And, you know, they all continue to be supported like forever, basically.
Yeah, exactly.
I think it's like a little bit of a cold start problem too, right?
Like with V2 to V3, it just took some time for folks to like,
had a reason to migrate over to V3,
especially with like their their becoming learning curves.
I think in hot DeFi summer, when we're putting two assets together with a V2 pool, we understand
how it works. It might have got hit by a permanent loss, but when it comes to V3,
there becomes a few more changes and needing folks that are automated liquidity managers to help
maintain those positions. And then when we go to V4, there's just an infinite number of things
that we can do and an infinite number of possibilities when it comes to leveraging
hooks when you're providing liquidity. So you have your rehypification using your LPs that's
out of range and a lending network. You have like fixed rate loans that become possible.
You have even a launch pad or even a, I've seen one, it's called Unimon, where it's just a game in a V4 hook. So there's a lot of possibilities,
but it just takes some time for people
to get their heads wrapped around that.
Yeah, yeah, definitely.
There's like an expansive ecosystem
that like hooks into these different versions of Uniswap.
Like a lot of the different cross-chain aggregators.
I mean, even Oku itself actually
with its aggregation feature.
Actually, maybe that's something that Alex could dive in
a little bit more on, like how this,
how your aggregation features work.
Cause that's a really important feature, you know,
that you can go onto Oku and you're not just getting access
to the Uni V3 AMM book, you're actually getting access
to some of the other DEXs on Telos all from one place,
which is just makes everyone's life a lot easier.
And also, I guess, like reduces the amount of slippage.
So Alex, do you want to dive into that a little bit more?
Yeah, of course.
So for Telos, we have two things.
We have bridge aggregation and we have dex aggregation.
So for Telos, for bridging, we have Stargate enabled.
Yeah, we have Stargate enabled.
And then on the dex side,
we have, I believe we have Uniswap,
Ice Cream Swap.
There's a couple other dex aggregators too
on Telos.
We will enable some more in the future.
That way the users can get the best quotes but how it works is basically
it kind of functions
like Google Maps
where you put in
where you're at
and where you want to go to
and it kind of compares
against all these quotes
so Uniswap, OneInch, Paraswap
it compares the fees It kind of compares against all these quotes. So Uniswap, 1inch, Paraswap.
It compares the fees.
Because lots of different DEXs have different gas fees.
They optimize differently for them. So if Uniswap has the best rate, then that's what the user is going to get.
rate, then that's what the user is going to get.
So it compares all these quotes. We have nine different
So it compares all these quotes.
routers enabled on Oku.
And then we'll have some more in the future. And then on the bridging side,
we do have all these bridges like across
Stargate, bridge aggregators as well.
I like Stargate. That's the cool thing.
If you've tried bridging on Oku,
to tell us, I bridged
base USDC
to tell us, I bridged USDC
using Stargate. And the cool thing
about Stargate is that there's
basically zero slippage,
which is one of the cooler things because
some of the bridges, you'll bridge, you know,
$100 and then you might only end up getting $ some of the bridges, you'll bridge, you know, $100,
and then you might only end up getting $98 on the chain that you wanted.
But the cool thing about Stargate is if you bridge $100,
most of the time you're going to get around either exactly $100 or maybe a little bit less,
but it's not that big of a difference as some of the other bridges.
That's a really great point, actually. that big of a difference as some of the other bridges.
That's a really great point, actually. You know, part of the process of getting, you know,
OCU deployed, we did this in tandem
with actually switching from our legacy bridge,
which was like a layer zero base bridge,
but it was like a simple wrapped asset bridge. And part of the
process of this was like, we wanted to launch with a really great trusted DEX infrastructure with
Oku and Uniswap as the underlying layer. But at the same time, we wanted to get away from some of
the issues that we had with our legacy bridge, you know, such as, you know, you could only, you could bridge
from like, say USDC, from Ethereum, Binance Smart Chain, and I think Arbitrum, but there was like
only a certain amount of liquidity that was available on each chain. So if most of the USDC had come over from Ethereum, then if users wanted to take
USDC over to Arbitrum, they would sometimes like run out of liquidity to go to Arbitrum because
there was not enough USDC locked up on Arbitrum. So yeah, it created all sorts of issues for
users, but also created like a little bit of a management overhead for the foundation because we wanted to make the experience great.
And we had to like move assets over to Arbitrum, re-bridge them, you know, just so people could bridge back to Arbitrum if they wanted.
Like yeah, going to Stargate and what they do, like all the assets for at least USDC and
USDT are locked up on Ethereum chain only, but then they're like using an OmniFungible
token, an LA0 OFT that can go cross chain to any of the, what they call Hydra chains, including Telos,
and I think, yeah, 30 plus other different L2s and L1s.
And you can just burn and mint between any of these chains
and there's no limit to the liquidity
because it's all the liquidity is on Ethereum.
And yeah, it's just such a better user experience,
I think with this and the combination
of these two things together,
having a more trusted bridge infrastructure
that like whales will feel comfortable
potentially moving large amounts of liquidity over to,
but also like an improved bridge standard is just really great.
And the other thing I should mention is it uses like Circle has a bridge standard that we're
using for USDC and Tether have their own standard. And this means that like at any time, like Circle
can actually get in contact with Stargate and say hey we're
ready to take over the contracts and deploy have this as a native asset and and to be honest like
there probably won't even be a lot of differences once that transition eventually happens but you
know it is nice to I guess have the assets in the hands of Circle and
it is nice to be on a standard that is like recognized like this. So yeah, I just wanted
to add some important context there for a lot of users, maybe trying to understand like
all the moves that like the Telos DeFi team is making at the moment to improve the DeFi situation.
Go ahead, Alex.
Oh, yeah, I was just going to say that's a great point.
I'm pretty bullish on the OFT standard.
I think it's great.
ClearAzir has been doing a great job of that.
And then they've been seeing a lot of adoption.
But, yeah, I'll add this to
it doesn't matter if you bridge $100
or $100,000.
That's the cool thing about
OFTs. It's any size
and there's still not going to be any slippage.
That's awesome
to see from the Leader Zero team
in Strike 8.
This was a pretty significant issue for Telos in the past where it's slippage and people bridging liquidity over it. And before it wasn't as easy to just, you know, bridge funds over and then I can't even tell you what percentage you'd get back.
And so I think having this upgrade
is pretty significant. It goes to show like we're really kind of headed towards more interoperability,
but also kind of seamless and frictionless interoperability. You want people to be able
to bridge their funds and not feel that impact with fees and slippage.
So that I know for a fact that people look for that type of experience, how important that is. It's almost like if you don't have that, then the user feels like, you know, you're kind of getting robbed by fees.
And so, like, what's the point of having all this technology?
But to be able to do that, I think this really brings us up to speed with the market standards for optimum bridging here.
But, yeah, I do want to ask Oku, you know, you have been able to reach some impressive TVL.
If I'm not mistaken, from your analytics, you recently hit almost like $4 billion in TVL.
Can you talk about what that journey was like since you guys got started?
How long you guys have been out and working with your partners?
How has it been collaborating with them to be able to achieve such numbers like that?
able to achieve such numbers like that yeah so i think um you know in the beginning we started with
Yeah.
only a couple of chains i think it was arbitram optimism polygon uh and ethereum so in the
beginning days it was definitely a little bit more tough um to gain adoption i think but i think
we've done a pretty good job especially especially in the last couple of months,
adding new chains that people want. We're always open to feedback and listen to what the community
wants. I did see a lot of comments of people asking, you know, when Telos, when Telos. And
comments of people asking, you know, when Telos, when Telos, and, you know, we're finally able to
add it. So, yeah, I think that's one of the cool things, you know, all these chains bring in a
couple new users. But I think, yeah, overall working with all these different teams, it's been,
you know, really great working with you guys with the Telos team. We've been really easy to work with. And I think we do have some upcoming campaigns too
to get users incentivized to use Oku and provide liquidity.
But yeah, I think there's a lot of cool stuff coming up soon.
Yeah, it's really exciting.
And I'm happy to have this partnership.
I think the community was excited and is excited to be using all the new features and kind of the whole experience is completely different than what we had in the past. system developments, do you envision Telos taking that similar to previous, I guess,
partners and collaborators to drive similar levels of liquidity? You know, like,
obviously, achieving 4 billion TVL, there's a lot of usage happening across chains here.
And so it's very important to increase user engagement. How do you envision Telos to achieve that
like you have in the past with others?
Yeah, that's a good question.
I think me and Austin were talking earlier.
I think he has some alpha that could speak more on that.
Yeah, I mean, i think always one great way to to kick off
um that flywheel right of getting organic volume which then in turn gets more lps wanting to come
on board then you're going to have a better trading ecosystem for users is there's incentives
i know previously in the past for those other blockchain networks
kicking off incentives, there's quite a bit of increase in TVL and that volume. So then that way
it just trickles down and you can start to create that flywheel effect. And hopefully working with
the Telos folks soon on an incentive plan that we can bring to the DAO.
incentive plan that we can bring to the DAO.
Yeah.
Can we drop it, Narek, or at least hint about what's coming?
I think it's later today.
Correct me if I'm wrong.
Yeah, I don't see why not.
I mean, I think this would be an opportunity for people to understand, you know, what are
What are some of the initiatives that we want to be a part of?
some of the initiatives that we want to be a part of.
But yeah, you know, like we are working with UniswapDAO and we are putting up a proposal
so that we can be a part of that incentive program.
And I think that's a really great opportunity for us to attract that organic volume and
attract more LPs. Because of course,
when you have people joining, it is going to create a better trading ecosystem. The experience
for everybody is just going to be a lot more fluid, I guess liquid. And I think that's really the goal here, that we want to show that Telos is able to offer top-tier DeFi experiences and to reward people for providing LP for Telos.
So I think that that's a really exciting venture that we're trying to work out with the DAO.
And it happened through Oku.
So I think that's really an exciting step for us right now.
100%.
And even before that, I think it's going out maybe today or next few days.
There is some early incentives coming with Metronome, essentially to get things kickstarted.
But then, yeah, following up from that, we are working with the DAO.
They have a matching program for anyone who's not aware of this, where we put up a certain
amount of Telos incentives.
And generally, if the DAO appro approves they're able to match I
think 50% of the incentives so it's a really cool program that Uniswap is
running to really drive liquidity into all these new chains that are that are
utilizing the underlying Uniswap protocol. I don't know if Austin you
wanted to chime in and give more details on how this,
that works and, you know, some of the past successes that you've had with that program.
I think Austin had to drop off a little bit early, but I can jump in.
Yeah, go ahead, Alex.
Yeah. So in the past, we have seen a lot of growth
with this program.
So after we, you know,
announced all these incentives,
you know, usually the TVL of these chains,
they have a little,
a nice little spike in terms of TVL.
So I think it's a great way
to get more users on the chain, to try out the
chain. We have seen a lot of good results in the past with the program. I think the users are
generally pretty happy with the rewards that they get.
Yeah, I think the program is great. And I guess there's a question for all of us here
something you know that i've always wondered and it's it's like when we offer incentives like
you know we want to design it in such a way that it's not your typical
system where people just come to farm and then as soon as rewards are done they leave like
i think the important thing to note here is that you want to create something that's more long-term
minded that rewards long-term holding and and blocking your liquidity so like you know the
what have you guys seen done in in in defi or you or how could we achieve that kind of growth?
That's not the typical status quo here.
Because what we don't want is the experience of people just coming on farming
and then once rewards are done, leaving and jumping onto the other chain. I think what's important is to create an environment where you reward growth
and long-term vision-minded people where they lock in their liquidity support
to support the network.
So what do you guys think that could be done that's kind of different
or maybe worked in the past with others?
I'm curious to hear your thoughts.
Yeah, so I think I've seen a couple of other chains and usually what makes me stay to a certain chain,
not bridge out to these other chains,
is I think every chain needs a premier app.
One app that's really good, really simple to use,
has great user onboarding, and that's really sticky.
Even if it's something as simple as, like, a prediction market, kind of like Polygon, that's, like, their premier app right now.
That's the reason why they still have a pretty good chunk of TBO, I think, say.
Say and Sonic, they have grown really fast.
And Sonic, they have grown really fast.
And I think one of the main reasons because of that,
why the users are staying on the chain is because there's a lot of apps
and a lot of stuff to play around with on the chain.
So I think that's a good way to make these users stay for the long term.
So I think those are some good ways.
And then I do have some ideas for, you know,
that we can do with Telos to make the users stay.
But I don't know if I can, I don't know if I can leak it yet,
but yeah, we'll be in touch.
And it should be a good way to keep these users on Telos.
Absolutely. Yeah. Thank you for that.
Yeah. I couldn't stress how important user experience is, at least for myself. Anytime I catch myself using a new DEX or a new DAP, if the user experience is not there, it just prevents people from wanting to come back.
So I think it all goes hand in hand with each other here, right?
Like when you provide an experience with, you know,
virtually zero slippage or very low slippage here,
along with a clean UX UI, people are going to love that.
And you're kind of building trust here.
You're building your brand for kind of performance.
And I think that's what's important.
I think in the past, you know, it's been all over the place
and we're really excited to be working with you.
You guys have, you know, especially like having limit orders,
for example, that's not something that, at least on the EVM side that we're used to having here.
So I think you bring up a good point and it's about creating an experience that is sticky for
people. And so personally, I'm excited to have that as our kind of foundation.
And then, you know, like the strategic initiatives that, you know, we can't really talk about too much. It's like that's the that's the second part to it.
But you have to have that foundation of a clean experience to be able to keep the people there and then reward them through these initiatives here.
Yeah, 100%.
And then actually earlier today from the Oco account,
I dropped a video on limit orders.
So it's kind of like a little demo.
So if you guys are listening and you haven't tried limit orders,
but you want to, that's a good video for you to get started.
I absolutely love that you guys have limit orders but you want to, that's a good video for you to get started. I absolutely love that you guys have limit orders. I think it's such an underrated feature.
I'm not sure why it hasn't taken off more on EVMs or just generally in DeFi. And especially
the combination of both an AMM and order books ensures that limit order order books,
it ensures that there is both at least a decent amount of liquidity, but then you also have
choice to put in an order at a certain amount and wait for it. It's just crazy that this has
been missing for so long. And so, yeah, I just wanted to chime in
about how big a factor that is. It's definitely something that I'm going to be using and something
that I think will take off more as we move forward. Just curious from your perspective,
like any idea why like order books, order book decks haven't been as much of a thing as what you think they would
Yeah, I think maybe just, you know,
in the past there's been a lot of experimenting on it, but you know,
they haven't been, haven't stuck around too much,
but I think maybe part of that is not so much the product, but the marketing behind it.
I think it died out because not enough users knew about it.
So I think that's one of the reasons why I wasn't able to stick around as much.
Yeah, 100%. reasons why i wasn't able to stick around as much yeah 100 i think it's it's both that the lack of marketing and perhaps the other thing is like without that amm liquidity alongside it there
just wasn't enough yeah not enough network effects to to make it worthwhile i i have used like one or
two dexes and like you'd put in an order and like it would
just never get taken because there just like wasn't much activity so like just the beautiful
thing that you guys have done is that you've combined these two things together so it is an
actively traded uh book that the orders are put up against. And I think that increases the chance that you're not just putting in orders that never get filled.
They will get filled as long as the price
sort of gets to that point.
Whereas on some of these previous exchanges,
there were so few users on these order booked,
limit order DEXs that just like,
no one would ever fill the order,
even when the price had gone past your limit, the general market price, I mean.
So yeah, that's interesting.
Just quickly, Alex, did you mention that you have to go off?
We don't want to hold you too long if that's the case.
I don't know.
Yeah, I'm good on timer.
Cool, cool. that's the case. I don't know. Yeah, I'm good on timer.
Cool, cool. Narek, did you have any other questions or we can also open it up?
I'm going to ask one more question before we open it up. And it's almost like a little bit of a shout out here. Because I see on your website, you guys have Morpho coming soon.
And, you know, that's a project that our CEO was a part of.
And, you know, do you mind talking about that for a second? I guess, you know, introducing that, like it's, you know,
we hope to one day be able to have that for Telos,
but maybe you can kind of talk about that for Oku.
Oh, yeah, for sure.
We can leak some alpha for you guys,
exclusive for Telos,
because we haven't really been talking about it too much,
kind of like saving it for the announcement,
but yeah, we'll give you some alpha.
So the rumors are true.
Morpho is coming to Oku's front end.
So pretty soon you'll be able to bridge, swap, LP,
and then place limit orders and now borrow and earn.
So yeah, we'll have Morpho and Oku's front end.
It'll add just another feature
and basically becoming
this DeFi all-in-one app
where you can just stay in Oku
and do all these things.
So definitely something
that we're excited for.
Yeah, we're very excited.
And then, like you guys said,
hopefully we can see it
on Telos as well.
Yeah, that's really exciting.
I mean, talk about deep functionality here.
And I think you're right on the money here by being able to add this type of feature.
Because now you really are becoming like a one-stop shop for defi here and so and i
think usually those experiences if you you really kind of build out the right features um like those
those succeed better because like you you're you're creating the whole experience you don't
want people to be jumping from one from one end to the other too much here.
And to be able to have that all on Oku, I think that's a really kind of powerful angle here. And
so I do look forward to, you know, one day having Telos work with Morpho. So yeah, I think that's
really exciting for you guys and for the whole ecosystem.
I think we could open up the floor for any questions or if someone wants to come up and talk, ask a question here.
So yeah, please request to speak or if you want to drop a question in the comments.
Let's see what we got.
Okay. Um, I don't have any, doesn't look
like we have any questions. If that's the case, um, no, I think we could wrap up
any closing remarks
you guys want to say
for this
for me
I'm excited to have you guys
oh we got
a new speaker here
John is joining us
hey John Nice. John is joining us. Hey, John.
Morpho point, which is really phenomenal.
Does that also, Alex, does that also mean curators as well?
Like, in other words, you know, being able to, you know, create vaults as well? Like, in other words, you know, being able to
create vaults
as well?
We are working with
the curator right now.
I can't say which one, but
I'm actually not 100%
sure if you'll be able to create your own vaults, but
yeah, I'll get
that information over, and then
I'll just double check with the
team to make sure that that you can create those orders on there okay cool yeah thanks a lot that
that's in any case that's that's really excellent and congratulations on that yeah thank you
Yeah, thank you.
Just a quick follow-up question for you, Alex, on Morpho.
They've been growing astronomically well, and actually, John might be able to answer
this as well, but I've just noticed how big they've grown so quickly with lending.
I'm just kind of curious, what's the story behind their success?
They just, like, really become a big name quite quickly.
And it's been really impressive to see some, you know, competition for things like Aave.
Just wondering if you have any insights as to where that's coming from.
Yeah, I think they've definitely done a good job of expanding and getting all these users
to try out Morpho.
I think it's pretty easy to use.
But one of the other things that's pretty cool
about the Morpho deployment for us
is we're not just going to, you know, it's not going to be like exactly the same front end that they're used to seeing on Morpho.
We kind of took Morpho and we made the front end better, made it more easy for everybody to use.
So, yeah, I'm excited for everybody to try it out.
But I think that Morpho has done a great job of growing.
I think, you know, strategic-wise, I think they've done the right moves.
And, yeah, we're just very happy to work with them.
Yeah, I mean, I would say just in terms of the approach.
So I kind of met those guys in early 2021.
First of all, they're like all of GigaBrain.
Like, they're really, really smart.
And, you know, they took a different approach.
So, you know, like the code base is 600 lines of code.
So it's very elegant in its simplicity.
You know, they've taken this much more kind of, let's say, flexible modular approach.
And the idea is to dramatically increase efficiency and then, of course, safety with, you know,
just like less code.
And then somehow it becomes more flexible. And so, you know, when you kind of look at different approaches,
whether it's Aave, whoever, and I'm not denigrating anyone,
I'm just, you know, it's kind of like the one
that everyone knows about.
You know, some people would say there's like, you know,
kind of like idle capital inefficiency.
And so, you know, the opportunity to kind of take this peer to peer matching engine approach, I think,
was another breakthrough.
And then, of course, with the curators, that's the other part of it.
So now you see, for example, Gauntlet and others, experts, I would say, who specialize in managing on-chain risk through a variety of
different tools and knowledge and just experience and so on. Being incredibly responsive, for
example, whenever some event happens, the curator can manage that risk quickly.
risk sort of like quickly.
You know, and then I think also like there is this kind of debate about the fee switch.
And, you know, once the fee switch is enacted or rather enacted, then like the code base,
the license becomes like totally free for anyone to use.
And so there's this like debate.
My buddy, Mark Zeller, I've known him for a long time. He's the guy that runs the Aave Dao and stuff like that. He's
a pretty big kind of like morpho critic, if you will, put it lightly. But you know, he
says, well, once the fee switch is activated, then curators will simply just fork and, and
then, you know, go to market without having to kind any fees to the Morpher protocol.
However, recently they also, as a protocol and as an organization,
started expanding what they offer, including rich tool sets.
And so I think the combination of offering premium services,
very, very, very like good analytics tooling.
And then just, you know, even if you look at kind of like,
I don't know, I think Zach XBT said this a while ago or not too long ago that if anyone uses like a fork protocol,
he's not going to help them out, which, you know, I don't know.
I mean, it's a bit controversial,
but I just think once you're sort of accustomed to using a protocol that you know is safe when you have,
you know, more and more feature sets emerging, that's expanding kind of like horizontally
in a pretty elegant way, you know, you're probably going to stick to that, especially
if you're talking about like deploying, you know, huge amounts of capital, like some of
these curators are deploying, you know, hundreds of millions of dollars excuse me and then and then now we're
actually even seeing like um some interesting developments with like basically compound now
changing its strategy and actually building on morpho so you know you've got kind of like
race conditions basically at this point between i mean I obviously have a bias for you because I've been with these guys for a long time, but you've got Aave and Stanis and a friend and those guys are wonderful people, but they've got this kind of like, you know, well understood traditional model that's just a behemoth.
And now you've got this like flexible, modular, more open model.
And that's kind of the big race right now.
So, you know, we'll see how it goes.
Yeah, that was really interesting and great insights, John.
Really appreciate that.
Particularly interesting that, yeah, it's only like 600 lines of code.
interesting that, yeah, it's only like 600 lines of code. That's, that's incredible. But like,
That's incredible.
also just generally speaking to like the trust and security component, how important that is.
I mean, it's, it's massive. It's, it's like the difference between like big whales wanting to
deploy, you know, billions of dollars into a protocol or, or not. So, and, you know, this general thought pattern actually speaks
to kind of our general DeFi strategy at the moment, which is
like to lean more towards like, you know, trusted code bases,
you know, trusted operators of those code bases, you know, and
really comes back to, you know, the partnership with Oku,
with, you know, Uniswap being so deeply involved. You know, the fact that, you know, this is Uniswap
verified code, like, I think it is really the difference between, you know, a lot of liquidity coming in and not.
It's just, it is really quite a big deal, I think.
And when you think about it from a security perspective,
I think a lot of users can really trust this because the V3 code has been deployed for,
I think, what is it, maybe two years?
Alex, you could probably correct me, maybe longer. And so many different chains have been using it, Uniswap's been using it, billions and billions and billions of dollars have been deployed as liquidity on it. And there's been no hacks to date.
It's just tried and tested code, you know, deployed by a team that's highly trusted.
These are just really key things for liquidity providers and users and everyone in between.
You know, if you're going to deploy large amounts of your own capital, you want to put it somewhere you trust.
of your own capital you want to put it you know somewhere you trust um you know just the other day
i was i was doing like a loan against some of my btc and i was like choosing between the different
loan providers um i saw there was like silo finance on on sonic um and i really wanted to try
you know the sonic ecosystem but I ended up using
Aave on Sonic just because like, you know, if it's the difference between, you know, losing my money and not, I'm going to go with a
more trusted code base. And the more tried and tested, I think
Silo is a brand new protocol. So it's like, even though maybe
there's more incentive rewards on
that protocol, at the moment, it just doesn't make any financial sense that I would put my
collateral up, you know, at an untrusted protocol, or not untrusted, but like just a brand new
protocol, essentially. So these are these are real considerations for people.
So these are real considerations for people.
Yeah, I mean, I think also like Morpho had a very minor front end incident or maybe one of the curators did or one of their partners.
I can't remember. And they responded like immediately and resolved the issue immediately.
So, you know, part of that is also the kind of lifecycle management and service that you get.
That is also the kind of lifecycle management and service that you get.
And I think Oku is at this point pretty well known for having good technical chops and obviously working with kind of like, you know, Uniswap, I mean, and now Morpho and potentially others of the highest kind of technical caliber as a user.
You can you know, there's that responsiveness,
right? And so even though no user funds were in any way compromised, there was like this kind of
front end issue, but like to get responsiveness and resolution within like a few hours,
I think also speaks to why curators will not be able to simply just fork once the fee switch is activated,
if it's activated.
I mean, I don't know.
I guess that's probably the thing most people speculate on with respect to the token.
Because, you know, if it was activated, then obviously that would be a pretty monster token,
given their growth.
But, like, you want to have that technical uh basically responsiveness in the event that
stuff comes up which inevitably it does with everything um you know and so i think i think
the way oak was going about it i mean this morpho news like to me i i've heard some rumblings about
it or just kind of mentioned but like it's very exciting because um you know i know those guys and
and i and i definitely think their model is very robust.
And so I'm really looking forward to seeing how this develops.
So please keep us in the loop with the alpha
as you guys roll this out.
I definitely will definitely keep you in on the loop
with all the alpha leaks that are coming out.
Yeah, and I think you guys brought up some really good points here about trust.
Because I know not too long ago when FTX and Luna kind of collapsed the markets,
one result of that was that people lost a lot of trust in kind of DeFi.
One result of that was that people lost a lot of trust in kind of DeFi.
And you saw a lot of people pulling their money out and, you know, parking it either in stables or Bitcoin.
And ever since then, I felt like it's been kind of the networks are kind of building that trust back up.
up. And so I think when you have a something with like a clean coat, someone that's being able to
respond really quickly to addressing certain things, like these are these are what's raising
the standards in the space. And so, you know, having trusted partners and building back trust
is the of highest importance, really, is because, you know, like we are focused on increasing our standards and, you know, being above others.
And it's about having trusted for code to be written in that
kind of simple way, because then it means that you are able to respond kind of quickly
to addressing certain things in a much more streamlined way.
So yeah, you know, I think for us, it's really exciting to have you guys and
to be able to work with you to build that trust and to show that, you know, we've increased
our standards in this market and that we're going to continue to grow
and kind of tap into, you know, higher TVL, higher user growth for Telos.
Cool, guys.
Well, I don't know if you guys want to give like a closing remark.
We could start wrapping it up.
We're reaching an hour here, and I thought this was a really good space.
We got to talk about, you know, a little bit of alpha
and kind of what we're building here.
So if you want to give a closing remark, Alex, that would be great.
Yeah.
Yeah, for sure.
Yeah, so I would encourage everybody here that's listening
to go try out the limit orders.
We have enabled them for Telos.
If you go to the Oku page
or our Twitter,
the video that I posted in the morning, it's kind of
like a nice little demo.
It's like, yeah, you guys can go try
that out. And then
coming soon, we'll have
the new advanced order types.
So stay tuned for
that. And then, yeah, we have the Morpho stuff coming soon as well.
So, yeah, very excited and very happy to work with you guys,
with the Telos team.
And, yeah, go bridge over on Oku with Stargate.
Great stuff.
Just from our side, just a sort of mini announcement. I know that USDM just
got deployed on Oku earlier this morning. So go check that out. Just generally look out
for announcements that are coming because there's going to be a flow of new little features
and things that have been added, including the order book went live,
sorry, the spot trading aspect went live last week. There's going to be more like little feature
announcements like that that will happen and more different deployments that occur. But also stay
tuned for incentive announcements. I think there might be one coming out later today.
So that's going to be something really exciting for the community. So, yeah, sign up to both the Hello Tellers, follow us,
and obviously follow Oku as well.
Absolutely, yeah.
Look, we're constantly building the ecosystem out.
We want to have great partners like Oku and having, like I said, the trust built back up.
And I think it's there.
And so we're constantly growing our network.
I love that we have this connection with the Uniswap DAO and the Alpha with Morpho and Oku is awesome.
I hope that one day soon we can get that on Telos. But, you
know, having this network of really great partners and to be able to work with you in a collaborative
way is the key to increasing our standards here. And I think we're doing just that. And so we, I think the feeling is
mutual with Oakley, like we're excited to have you, we're excited to work with you and collaborate
moving forward. So I think the community is happy to have you, we are happy to have you.
And yeah, we're looking forward to the growth here well this was an awesome talk you know
we we should wrap up here and potentially do another one you know soon
if there's an appetite for it so thank you everybody for joining see you on the
next one thanks everyone gotcha thanks guys Thank you.
